Icon Advisers Inc. Co. Decreases Position in Xerox Corporation (XRX)
Icon Advisers Inc. Co. cut its holdings in shares of Xerox Corporation (NYSE:XRX) by 75.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 40,000 shares of the information technology services provider’s stock after selling 120,000 shares during the period. Icon Advisers Inc. Co.’s holdings in Xerox Corporation were worth $1,149,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also bought and sold shares of XRX. Nationwide Fund Advisors lifted its position in Xerox Corporation by 0.7% during the first quarter. Nationwide Fund Advisors now owns 289,862 shares of the information technology services provider’s stock valued at $2,128,000 after purchasing an additional 1,900 shares during the period. Janney Montgomery Scott LLC lifted its position in Xerox Corporation by 54.4% during the first quarter. Janney Montgomery Scott LLC now owns 40,308 shares of the information technology services provider’s stock valued at $296,000 after purchasing an additional 14,210 shares during the period. Boston Partners acquired a new position in Xerox Corporation during the first quarter valued at $619,000. Pictet Asset Management Ltd. lifted its position in Xerox Corporation by 59.0% during the first quarter. Pictet Asset Management Ltd. now owns 704,192 shares of the information technology services provider’s stock valued at $5,169,000 after purchasing an additional 261,400 shares during the period. Finally, LS Investment Advisors LLC lifted its position in Xerox Corporation by 25.2% during the first quarter. LS Investment Advisors LLC now owns 43,790 shares of the information technology services provider’s stock valued at $321,000 after purchasing an additional 8,811 shares during the period. Institutional investors own 83.93% of the company’s stock.
A number of research analysts recently issued reports on the stock. BidaskClub upgraded shares of Xerox Corporation from a “sell” rating to a “hold” rating in a research report on Thursday, June 29th. ValuEngine downgraded shares of Xerox Corporation from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Zacks Investment Research downgraded shares of Xerox Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, June 20th. Morgan Stanley decreased their target price on shares of Xerox Corporation to $32.00 and set an “overweight” rating for the company in a research report on Friday, June 16th. Finally, Barclays PLC restated a “sell” rating and set a $27.00 target price on shares of Xerox Corporation in a research report on Friday, June 23rd. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $35.63.
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Xerox Corporation (XRX) opened at 32.64 on Friday. The stock’s market cap is $8.30 billion. Xerox Corporation has a 12-month low of $22.90 and a 12-month high of $32.99. The firm has a 50-day moving average of $32.06 and a 200-day moving average of $29.53.
Xerox Corporation (NYSE:XRX) last released its earnings results on Tuesday, August 1st. The information technology services provider reported $0.87 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.84 by $0.03. Xerox Corporation had a net margin of 4.55% and a return on equity of 15.28%. The company had revenue of $2.57 billion during the quarter, compared to analysts’ expectations of $2.60 billion. During the same quarter last year, the business earned $0.26 EPS. The business’s revenue was down 8.1% on a year-over-year basis. Equities analysts predict that Xerox Corporation will post $3.36 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Friday, September 29th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 3.06%. The ex-dividend date is Thursday, September 28th. This is a boost from Xerox Corporation’s previous quarterly dividend of $0.06. Xerox Corporation’s dividend payout ratio (DPR) is 12.08%.
About Xerox Corporation
Xerox Corporation is a provider of digital print technology and related solutions. The Company has capabilities in imaging and printing, data analytics, and the development of secure and automated solutions to help customers improve productivity. The Company’s primary offerings span three main areas: Managed Document Services, Workplace Solutions and Graphic Communications.
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